Reliant Investment Management LLC Sells 536 Shares of Apple Inc. (NASDAQ:AAPL)

Reliant Investment Management LLC trimmed its position in shares of Apple Inc. (NASDAQ:AAPL) by 1.2% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 44,251 shares of the iPhone maker’s stock after selling 536 shares during the period. Apple accounts for approximately 4.9% of Reliant Investment Management LLC’s portfolio, making the stock its 2nd largest holding. Reliant Investment Management LLC’s holdings in Apple were worth $11,081,000 as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of AAPL. Bull Oak Capital LLC grew its stake in Apple by 252.3% during the third quarter. Bull Oak Capital LLC now owns 155 shares of the iPhone maker’s stock worth $36,000 after buying an additional 111 shares in the last quarter. Hershey Financial Advisers LLC bought a new position in shares of Apple in the second quarter worth about $42,000. Christopher J. Hasenberg Inc lifted its holdings in shares of Apple by 88.9% in the third quarter. Christopher J. Hasenberg Inc now owns 306 shares of the iPhone maker’s stock worth $69,000 after acquiring an additional 144 shares during the last quarter. SPX Gestao de Recursos Ltda bought a new position in shares of Apple in the third quarter worth about $71,000. Finally, Teachers Insurance & Annuity Association of America bought a new position in shares of Apple in the third quarter worth about $77,000. 67.73% of the stock is currently owned by institutional investors and hedge funds.

Apple Stock Performance

NASDAQ AAPL opened at $239.07 on Monday. The company has a fifty day simple moving average of $237.56 and a 200 day simple moving average of $234.14. Apple Inc. has a 12-month low of $164.08 and a 12-month high of $260.10. The company has a current ratio of 0.92, a quick ratio of 0.88 and a debt-to-equity ratio of 1.26. The company has a market cap of $3.59 trillion, a P/E ratio of 37.95, a PEG ratio of 2.44 and a beta of 1.18.

Apple (NASDAQ:AAPL) last posted its quarterly earnings results on Thursday, January 30th. The iPhone maker reported $2.40 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.04. Apple had a net margin of 24.30% and a return on equity of 160.83%. Sell-side analysts predict that Apple Inc. will post 7.28 earnings per share for the current fiscal year.

Apple Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 13th. Investors of record on Monday, February 10th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.42%. The ex-dividend date was Monday, February 10th. Apple’s payout ratio is currently 15.87%.

Insider Activity at Apple

In related news, COO Jeffrey E. Williams sold 100,000 shares of Apple stock in a transaction on Monday, December 16th. The shares were sold at an average price of $249.97, for a total value of $24,997,000.00. Following the completion of the sale, the chief operating officer now owns 389,944 shares of the company’s stock, valued at approximately $97,474,301.68. This trade represents a 20.41 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.06% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

AAPL has been the subject of a number of research reports. Morgan Stanley set a $275.00 target price on shares of Apple in a report on Tuesday, February 11th. Raymond James raised their price objective on shares of Apple to $250.00 and gave the company a “buy” rating in a report on Monday, January 20th. Sanford C. Bernstein raised their price objective on shares of Apple from $240.00 to $260.00 and gave the company an “outperform” rating in a report on Friday, January 3rd. Moffett Nathanson reiterated a “sell” rating and issued a $188.00 price objective (down previously from $202.00) on shares of Apple in a report on Tuesday, January 7th. Finally, Wedbush reiterated an “outperform” rating and issued a $325.00 price objective on shares of Apple in a report on Monday, March 3rd. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating, twenty-one have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Apple has an average rating of “Moderate Buy” and an average target price of $243.88.

About Apple

Apple Inc designs, manufactures, and markets smartphones, personal computers, tablets, wearables, and accessories worldwide. The company offers iPhone, a line of smartphones; Mac, a line of personal computers; iPad, a line of multi-purpose tablets; and wearables, home, and accessories comprising AirPods, Apple TV, Apple Watch, Beats products, and HomePod.